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Bhubaneswar, Oct. 9 In its endeavour to ensure greater transparency and customer satisfaction, the National Aluminium Company (Nalco) has decided to go for automatic refund of unadjusted balance amounts without waiting for the requests. According to the company, suo motu refund will be made at the end of each quarter within a threshold limit of Rs 1 lakh.

The refund shall be automatic, unless the customer specifically desires for rollover of the balance for continuation of their transaction, the company said on Tuesday.

The company will also send the monthly statement of accounts to all customers for their reconciliation and confirmation.

Currently, 70 per cent of Nalco’s domestic sale of metal is made against advance payment.

As per the prevailing practice, refunds against excess advance are made by the company, based on customers’ requests.

More Stories on : Announcements | Aluminium | National Aluminium Co. Ltd

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Excess advance: Nalco to go for automatic refund

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